Figures showing a retail sales surprise in June’s heatwave were today clouded by a big fall in consumer confidence for July. GfK’s headline reading fell for the first time this year as the reality of price rises and higher interest rates is felt by households. On the corporate front, mining giant Glencore has reported that output of copper, zinc and nickel all fell in the first half of 2023.
The FTSE 250 index is perennially overlooked by investors. Income seekers prefer the higher yields on offer in the FTSE 100 index, while investors aiming for capital gains often look to smaller companies.